China unveils action plan to better utilize foreign investment

BEIJING - China's commerce ministry, alongside other government departments, released an action plan on Monday to stabilize and optimize foreign investment utilization.

The action plan details 15 measures to be taken across five areas, which include expanding market access, facilitating investment procedures, enhancing investment promotion, strengthening services and guarantees for foreign investment and improving foreign capital management.

The plan prioritizes expanding market access in services, finance and pharmaceuticals, among other sectors, while streamlining processes for cross-border mergers and acquisitions, data flows, and domestic reinvestment by foreign firms.

It also outlines concrete measures to promote the "Invest China" initiative and fully ensure national treatment for foreign-funded enterprises.